For this reason, I require a significantly higher deposit and last month's rent to mitigate the risk.

Usually there was some other mitigating circumstances. 

Those costs can be mitigated and delayed to a later date, but that raises the initial price you pay for the property.  

underwriter hereMAYBE you can get away with this, but with no contact from here it'll far be harder. part of risk mitigation is telling the story of the deal, but here we only have 1/2 the story, yours.

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Understand you can not eliminate all risk, only mitigate it.

Well my knowledge of the market players helps to mitigate risk for my client.

wait, you didn't list the prosthe risks you mentioned are correct, but can be mitigated and not nearly as bad as you said. you "risking it all" isn't really correct, market drops are temporary, you can get your money back out (and more) using BRRRonly focusing on the downside is a hard way to get ahead.

If you are interested in getting into wholesaling, you should discuss your plan with a wholesale-savvy attorney and get informed on how to do so in such a way as to mitigate risks of violating the B&P code as much as possible.Also, legalities aside, soliciting to anyone that already has an agent listing their house for sale is basically asking their agent to file a complaint against you for practicing without a license. 

What changed was my understanding of the risks and experience using the system, I think debt can be very scary when you don't have a deep and long term understanding of the real life risks, and how to mitigate.

But there could always be mitigating factors that would allow for a shorter or longer period to demonstrate your intent.